Sharing Your Space Pays BIG!

The sharing economy is here to stay whether we know it or not. The phenomenal success of companies like Uber, Ebay, Etsy, Amazon, Task Rabbit and countless others is living proof that we are in the midst of a huge economic shift. Companies like Airbnb, HomeAway, We Work and Liquidspace are experiencing exponential growth as they facilitate short term home sharing and co-working arrangements for others. This historic evolution is impacting the housing market in a big way. Property owners and managers who understand the importance of this emerging marketplace are embracing the change and embarking on an exciting, new adventure.

The Short Term Rental Dilemma

What is a short term rental (STR)? An STR can be a home, a room, a building or any space that an owner/manager temporarily shares with others for compensation. It is different from traditional rentals in that the relationship is more like that of a hotel and its guests. Homesharing platforms like Airbnb, VRBO and others create a safe haven for the interaction between owners and guests to happen. The technology and best practices employed by these sites aim to keep the transaction honest and professional.

While homesharing can be a lucrative new adventure, it can also be a fast highway to the city of Crash and Burn. It can be frustrating and very costly if you jump into the marketplace without knowing what you are doing. While creating a growth plan for our short term rental owner/manager clients, we saw several recurring themes that came up repeatedly:

There is a happy medium...

If you have been curious about hosting guests through Airbnb, VRBO or other sites but want to know how to avoid these home sharing problems, you have come to the right place!

1. A good number of people are what we call "Not Ready for Prime-Time Players" in the short term rental business. They get excited about the possibilities and jump in with both feet. Soon, they find themselves overwhelmed, underpaid and uncertain of how to get off of this broken merry-go-round.​​

2. Then there is the "Scared Stiff" person who wants to do well with short term rentals but is absolutely paralyzed by fear of the unknown. They are stuck and can't wrap their mind around the mechanics of this innovative marketplace. This client conjures up every bad possibility that could happen. They tell the party-house story, the nosey-angry neighbor story, the police raid story, the squatter story, the wrecked house story, the robbery story and more. The truth is that while this could happen to anyone (whether home sharing or not), it is highly unlikely. In fact, the massive sucess of Airbnb, VRBO and other homesharing platforms serves as evidence to the contrary. With the right training and best practices in place, all of these scenarios are easy to avoid.

3. Let's not forget the "People Pleaser" who is over the top with everything! They feel a need to "get it right" so strangers will LIKE them (as if they can control that). It turns them into know-it-all, do-it -all zombies who work themselves into exhaustion preparing for every booking. In time, they burn out and completely lose focus of why they got started with short term rentals in the first place.

4. Last but certainly not least is the "For the Love of Money" client. This person is the epitome of a "crash and burn" sccenario. Their ego is large and in charge. They say, "Yes!" to anybody and everybody. On the surface, they look good! They brag about how much fast-cash they make. Yet, behind the scenes, they are battling with constant chaos. Their approach causes operation costs to skyrocket! High volume rentals done the wrong way means extra cleaning fees, more home maintenance expenses and high replacement costs as furniture and equipment are quickly worn out. Taking any old Joe as a guest often results in some of the things "Ms. Scared Stiff" feared.

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Why People Are Excited About Short Term Rentals

Now that we have put the cards on the table, let's talk about the awesome side of space sharing. It is changing the lives of people around the world! Many people who were struggling to put food on the table are now thriving. Retirees are using it as an extra income source to make ends meet. Parents are quickly building their kid's college fund and single parents are spending more time with their children instead of working a second job.

Here are a few more things you will want to know about home sharing:

It is super-simple to get started! You can create an account on a home sharing platform and be up and running in 30 minutes. We have heard countless stories of people who had their first booking within 24-48 hours of making their listing live.

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It's your space so you are in always in control. You get to say, "Yay or Nay!" to each rental request.

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You don't have to be like a 5-star hotel to be successful. Guests simply want to experience the comforts of home while away from home. They want better choices at an affordable price.

You can get started with what you have have right now whether it be a room, a boat, an apartment, a condo, a barn or a whole house.

You can even start with an airbed just like the founders of Airbnb did! In fact, all it really takes to be successful is the presence of three important elements:

1. A strong goal to keep you motivated and reaching for higher ground.

2. A core set of booking and hosting principles to live by.

3. A willingness to be flexible and creative as you navigate the ebb and flow of home sharing.

​With the right systems in place, a space sharing arrangement can be a big win for everyone involved. Guests can enjoy the comfort and amenities of home for much less than a hotel charges and hosts achieve their goals faster and with less stress.

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Helping STR Clients Fast Track Their Success​​​

I'm Stephanie, a member of the Property Masters Group and the Peak Performance Coach here at Complete Mortgage Processing. For more than 30 years, I have mentored business, real estate and mortgage professionals who want to succeed quickly.​​

​I love seeing people engaged in activities that put them on the road to freedom, prosperity and joy. Our first two STR clients

​​got into home sharing to recover from two unfortunate yet common situations -- death and divorce. The first client inherited a beautiful home after the death of a loved one and struggled with making the repairs and renovations that would increase its value. The second client had a luxury loft that sat empty as they resolved marital issues. Our team assisted with market research and developed an action plan for each client. Although each home was in a very different market, we were able to identify its strengths and target renters that would love each one. One client got a booking request within the first 24 hours. The other client who had stricter guidelines accepted a booking within the first few days of creating a property listing.

As we learned more, we took on more clients. We documented every consultation experience so we could teach what we were learning. This course is filled with sound strategies and best practices gleaned from hundreds of inquiries, rentals and experiences of clients who own, rent or manage a shared space.

TRAINER

MENTOR

LIFE COACH

RETAIL BANKING & WHOLESALE LENDING EXPERTISE

30+ YEARS OF

TEACHING EXPERIENCE

A Road Map + Smart Strategies + Easy Solutions ​

= Short Term Rental Success Quickly

There are a lot of conversations about hosting a short term rental or shared space but very few resources to help you get it right. Consequently, many people quit or are forced out of the business before they barely get started. Without comprehensive training it is very easy to make expensive mistakes. Some of those mistakes can lead to financial ruin.

When there is a step-by-step system in place, you and your team can achieve goals fast. By leveraging the experience of people who have succeeded, you can take a quantum leap. Your home sharing venture becomes easier, more fun and much more profitable. In no time, you will find your worry and confusion transforming into confidence and easy income.

Just Imagine...

Receiving more than enough in a week or weekend to cover household bills for the entire month!

Having more than enough cash flow to complete long overdue renovations

Quitting a dead-end job and pursuing your passion and hobbies

Experiencing the people, places and things on your bucket list

Finally focusing more on your health and well-being

Generously donating to your favorite cause and helping loved ones

Living rent-free or mortgage free years before you ever imagined you could

Meeting interesting people from all around the world that become dear friends

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It's all possible...

When you open your mind to creative possibilities for earning income and take steps to learn from people who are already successful at what you want to do.

Welcome to Short Term Rental Success Secrets!

This comprehensive training course will help you quickly learn the things you must know to thrive at doing short term rentals. Our class breaks down the complex aspects of this brave new world into simple, practical lessons that can be implemented right away. Our streamlined education portal is user-friendly and makes it easy for you to leverage our client's success. When you register for the Short Term Rental Success Secrets class, you get an all-access pass to our videos, tip sheets and the interactive lessons we recommend to fast track your success .

Quick-Start Video Lesson

We make it easy for you to understand the nuances of home sharing. Our training content is easy to understand and our training portal is easy to use.

Step-by-Step Tip Sheets

There's no need to reinvent the wheel. We have lots of tip sheets that you can download as PDFs or images on your phone to have on site while implementing what you learned in the STR class.

Interactive Lessons

Since home sharing is a hands-on job we include a few optional activities to help you gain confidence and clarity. These real-world assignments help to shorten the learning curve.

Why a Class on Being a Short Term Rental Host?

When something new comes along, millions of people across the Internet will voice their opinion about it. Consequently, there is a lot of incorrect (and downright dangerous) information circulating about how to cash in on home sharing. At times, we are in disbelief at the strong recommendations coming from people who don't have a clue. The owners and managers who listen to this poor advice often end up in trouble or putting their life savings at risk. It has quickly becomes a case of the blind leading the blind. It is our intention to change that.

We created this training portal for people who recognize that real-world coaching and training is vital to their success. In an effort to meet you right where you are now, we created lessons that will quickly move you from uncertainty and confusion to extra cash and 5-star reviews.

We truly believe that short term rentals can be done in a way that is both respectful of others and profitable. When owners and managers employ an effective system, they become better hosts and neighbors.

In contrast to other short term rental training and workshops, our class is designed specifically to address the unique challenges that arise with short term rentals. Using real case studies, we give you reliable solutions and help you navigate the terrain. By the time you our Short Term Rental Success class, you will know exactly what your next step is and how to take it.

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To ensure that we can fully support you through this journey, we limit the number of participants in the class. Be sure to register early to save your spot!

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MODULE 1: GETTING A PIECE OF THE PIE - Understanding What's Possible for You

There are definitely a few things you should know before getting into the homesharing/short term rental market. Failure to do so could cause you to suffer devastating losses. This module is designed to quickly bring you up to speed by giving you an indepth look at home sharing and helping you figure out what might be right for you. By the end of Module I, you will:

Know the basics of how short term rentals work

Understand both sides of the STR coin: the risk and the rewards

Know how you can find guests that are perfect for what you have to offer right now

Know the rules and regulations that impact your participation in the home sharing marketplace

Learn a step-by-step process for getting started both online and offline

And more...

MODULE 2: SUCCESS BY DESIGN - Preparing and Booking Your Shared Space

Home sharing is a radical change for our economy. Your long term success may require a radical change in the way you do things too! In this module, we continue to expand your thinking to take you outside the traditional rental income box. By the end of Module 2, you will:

Know how to cover your bills and fund your dreams in half the time

Know how to create a booking hit list that will keep you focused on priorities

Have tools to identify your property's strengths and weakneses through the eyes of your preferred guests

Learn how to spend dollars wisely so you get more bang for your buck

Learn easy ways to increase your net income

Learn how to prepare for and welcome help and support

Learn invaluable tips for keeping things running smoothly

MODULE 3: GUESTOLOGY - The Secret to Being a Great Host

We believe that there is a perfect guest for every property. Soon, you will be a believer too! Get this right and you're on the way to easy, joyful income. Get it wrong and you're out of business fast. In this module, you will discover the secret to being a great host that consistently receives 5-star reviews. By the end of Module 3, you will:

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Know how to develop standards that are meaningful to guests

Know easy ways to exceed the expectations of even the most particular guest

Know easy ways to make your space unique so it will stand out from the crowd

Know how to attract guests that are right for your space

Learn screening techniques that help you avoid guests that are not well-suited for your space

Know how to handle criticism/complaints privately and discreetly

What to do for special needs/special request situation and more

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MODULE 4: Resources You Can Leverage for Fast Growth

Being resourceful is the key to having long term success with your short term rental. The more resources you have at your fingertips, the easier it will be to navigate your way through unexpected situations. In this section, we will discuss how to stay on track to achieve your dreams no matter what. By the end of Module 4 you will: